The global crypto market cap climbs about 3.75% to $1.07 trillion. Bitcoin (BTC) price surged to the $26.5K range. In a significant development for the cryptocurrency market, major digital currencies closed the week with notable gains, driven by the news of “BlackRock’s plans to launch a Bitcoin exchange-traded fund (ETF).” The announcement by BlackRock, one of the world’s largest asset management firms, has captured the attention of investors and ignited a fresh wave of optimism. The BlackRock Bitcoin ETF plan has generated excitement in the cryptocurrency community as well. The potential entrance of such a reputable player into the crypto market is seen as a validation of the digital asset class and a potential catalyst for wider adoption. Crypto Market Hits New Weekly High As the news broke, the leading cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), experienced an uptrend. That drives the global crypto market cap to jump by over 3.75% to $1.07 trillion. Cryptocurrency Market Cap (Source: CoinMarketCap) Bitcoin reaches a new high for the week. At the time of writing, BTC traded at $26,593, with a surge of 4.09% in a day and 3.5% in a week. ETH climbed about 4.5% in the last 24 hours. Top altcoins, such as Binance Coin (BNB) and XRP, gained 4.50% and 3.23%, respectively. In addition, Solana (SOL), Cardano (ADA), and Quant (QNT) also experienced significant surges, which were 7.75%, 4.14%, and 13.5% increases, accordingly Further, leading memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) also soared and displays the meme coin frenzy has not yet ended Moreover, investors are closely monitoring the developments surrounding BlackRock’s Bitcoin ETF plans, as they could open the door for institutional investors who have been waiting for a regulated investment vehicle to enter the crypto space. An ETF provides a more accessible and familiar investment avenue, potentially attracting a broader range of investors seeking exposure to cryptocurrencies.

Bullish STX price prediction for 2023 is $0.6716 to $0.9220. Stacks (STX) price might reach $1 soon. Bearish STX price prediction for 2023 is $0.3417. In this Stacks (STX price prediction 2023, we will analyze the price patterns of STX by using accurate trader-friendly technical analysis indicators and also predict the future movement of the cryptocurrency. Stacks (STX) Current Market Status Current Price $0.5827 24 – Hour Trading Volume $78M 24 – Hour Price Change 7.76% up Circulating Supply 1,387,637,487.14 All – Time High $3.6104 (On November 16, 2021) STX Current Market Status (Source: CoinMarketCap) What is Stacks (STX)? Stacks is a layer-1 blockchain solution that is designed to bring smart contracts and decentralized applications (DApps) to Bitcoin (BTC). These smart contracts are brought to Bitcoin without changing any of the features that make it so powerful, including its security and stability. Stacks is powered by the Stacks token (STX), which is used for fueling the execution of smart contracts, processing transactions, and registering new digital assets on the Stacks 2.0 blockchain. Stacks look to take what makes Bitcoin so powerful, and extend it with additional functionality, without needing to fork or change the original Bitcoin blockchain. Stacks (STX) Price Prediction 2023 Stacks (STX) ranks 44th on CoinMarketCap in terms of its market capitalization. The overview of the Stacks price prediction for 2023 is explained below with a daily time frame. STX/USDT Descending Triangle Pattern (Source: TradingView) In the above chart, Stacks (STX) laid out a descending trianglel patternThe descending triangle is most commonly seen during downtrends and is often interpreted as a bearish signal. The ascending triangle pattern is reversed in the descending triangle pattern. As the price continues to make lower highs, descending triangles indicate to investors and traders that sellers are more aggressive than buyers. When the price breaks out of the triangle in the direction of the overall trend, the pattern is complete. Contrary to popular belief, a descending triangle can be bullish or bearish. A regular descending triangle pattern is traditionally regarded as a bearish chart pattern. A descending triangle pattern, on the other hand, can be bullish. At the time of analysis, the price of Stacks (STX) was recorded at $0.5827. If the pattern trend continues, then the price of STX might reach the resistance levels of $0.6519, $0.8267 and $1.0213. If the trend reverses, then the price of STX may fall to the support of $0.5160. Stacks (STX) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of Stacks (STX) in 2023. STX/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as the resistance and support levels of Stacks (STX) for 2023. Resistance Level 1 $0.6716 Resistance Level 2 $0.9220 Support Level 1 $0.4771 Support Level 2 $0.3417 STX /USDT Support and Resistance Levels As per the above analysis, if Stacks’s (STX) bulls take the lead, then it might hit and break through its resistance level of $1.3139. Conversely, if Stacks’s (STX) bears dominate the trend, the price of STX might plunge to $0.3567. Stacks (STX) Price Prediction 2023 — RVOL, MA, and RSI The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Stacks (STX) are shown in the chart below. STX/USDT RVOL, MA, RSI (Source: TradingView) The technical analysis indicator Relative Volume (RVOL) is used to measure the trading volume of an asset in relation to its recent average volumes. It is typically calculated by dividing the current day’s trading volume by the average volume over a specified period, such as the past 20 or 50 trading days. Also, it helps traders in identifying unusual trading activity and changes in market sentiment. At the time of analysis, the RVOL of Stacks (STX) was found below the cutoff line. Thus, it denotes a weak volume of participants trading in the current trend. The next technical indicator is the Moving Average (MA). This momentum indicator is used to smooth out price data and identify trends in the market. It helps in calculating the average price of an asset over a specific period. Particularly, the 50-day moving average (50 MA) evaluates the average closing price of the asset over the past 50 days. When the price of an asset is above 50MA, it is considered to be in an uptrend (bullish), and if laid below 50MA, it is in a downtrend (bearish). Notably, in the above chart, the STX price lies below 50 MA (short-term), indicating its downward. Hence, STX is in a bearish state. Although this is the current state, a trend reversal might occur. Next up is the Relative Strength Index (RSI). Significantly, this analysis indicator helps traders to determine the strength and momentum of an asset’s price movement over a specific period. In this analysis, the RSI is calculated by comparing the average gains and losses of the asset over the past 14 periods. The resulting value lies between a range of 0 and 100. Hence, the readings above 70 indicate an overbought state, and below 30 indicate an oversold state. Significantly, traders often use the RSI to identify potential trend reversals or to confirm the trend’s direction. For instance, if an asset is in an uptrend and the RSI reaches an overbought reading of 70, it may suggest that the asset is due for a pullback or correction. Conversely, if an asset is in a downtrend and the RSI is in an oversold reading of 30, it may suggest a potential reversal. At the time of analysis, the RSI of STX is at 44.85. Therefore, this indicates STX is nearly oversold. Stacks (STX) Price Prediction 2023 — ADX, RVI In the below chart, we analyze the strength and volatility of Stacks (STX) using the following technical analysis indicators – Average Directional Index (ADX) and Relative Volatility Index (RVI). STX/USDT ADX, RVI (Source: TradingView) To analyze the strength of the trend momentum, let us take note of the Average Directional Index (ADX). The ADX value is derived from the two directional movement indicators (DMI) such as +DI and -DI and is expressed between 0 to 100. According to the data on the above chart, the ADX of STX lies in the range of 26.9390 pointing out a strong trend. The above chart also displays another technical indicator – the Relative Volatility Index (RVI). This indicator measures the volatility of an asset’s price movement over a specific period. With respect to the chart’s data, the RVI of STX lies above 50, indicating high volatility. Comparison of STX with BTC, ETH Let us now compare the price movements of Stacks (STX) with that of Bitcoin (BTC), and Ethereum (ETH). BTC Vs ETH Vs STX Price Comparison (Source: TradingView) From the above chart, we can interpret that the price action of STX is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of STX also increases or decreases respectively. Stacks (STX) Price Prediction 2024-2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Stacks (STX) between 2024 and 2030. Stacks (STX) Price Prediction 2024 If bulls dominate the price momentum and trend patterns, then Stacks (STX) might successfully test and surpass its resistance levels to hit $4 by 2024. Stacks (STX) Price Prediction 2025 The significant upgrades in the Stacks ecosystem might persuade the entry of an increased number of investors. This may eventually boost the Stacks (STX) price to reach $6 by 2025. Stacks (STX) Price Prediction 2026 If Stacks (STX) successfully tests its major resistance levels and continues to move upside, then it would rally to hit $8 Stacks (STX) Price Prediction 2027 If Stacks (STX) sustains major resistance levels and stands as a better investment option in the market, then STX would rally to hit $10 Stacks (STX) Price Prediction 2028 If Stacks (STX) holds a positive market sentiment amid the highly-volatile crypto market by driving significant price rallies, then STX would hit $12 by 2028. Stacks (STX) Price Prediction 2029 If investors flock in and continue to place their bets on Stacks (STX), then the crypto would witness major spikes. Hence, STX might hit $14 by 2029. Stacks (STX) Price Prediction 2030 By 2030, the STX price might rally to $16 if the trend momentum aligns in favor of Stacks. Furthermore, STX would hold a positive market sentiment and be labeled as a long-term investment with highly profitable ROI. Conclusion If Stacks (STX) establishes itself as a good investment in 2023, this year would be favorable to the cryptocurrency. In conclusion, the bullish Stacks (STX) price prediction for 2023 is $0.9220. Comparatively, the bearish Stacks (STX) price prediction for 2023 is $0.3417. If there is a positive elevation in the market momentum and investors’ sentiment, then Stacks (STX) might hit $1. Furthermore, with future upgrades and advancements in the Stacks ecosystem, STX might surpass its current all-time high (ATH) of $3.6104 and mark its new ATH. FAQ 1. What is Stacks (STX)? Stacks is a layer-1 blockchain solution that is designed to bring smart contracts and decentralized applications (DApps) to Bitcoin (BTC). 2. Where can you buy Stacks (STX)? Traders can trade Stacks (STX) on the following cryptocurrency exchanges such as Binance, OKX, CoinW, Bybit, and Bitget. 3. Will Stacks (STX) record a new ATH soon? With the ongoing developments and upgrades within the Stacks platform, Stacks (STX) has a high possibility of reaching its ATH soon. 4. What is the current all-time high (ATH) of Stacks (STX)? Stacks (STX) hit its current all-time high (ATH) of $3.6104 on November 16, 2021. 5. What is the lowest price of Stacks (STX)? According to CoinMarketCap, STX hit its all-time low (ATL) of $0.04501 On March 13, 2020. 6. Will Stacks (STX) hit $1? If Stacks (STX) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $1 soon. 7. What will be the Stacks (STX) price by 2024? Stacks (STX) price might reach $4 by 2024. 8. What will be the Stacks (STX) price by 2025? Stacks (STX) price might reach $6 by 2025. 9. What will be the Stacks (STX) price by 2026? Stacks (STX) price might reach $8 by 2026. 10. What will be the Stacks (STX) price by 2027? Stacks (STX) price might reach $10 by 2027. Top Crypto Predictions Bitcoin Cash (BCH) Price Prediction 2023 Ethereum (ETH) Price Prediction 2023 Optimism (OP) Price Prediction 2023 Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

The proposed agreement would restrict client money on Binance.US to internal staff. Binance.US will also provide the US SEC with a comprehensive financial statement. Binance, the world’s largest cryptocurrency exchange, and its U.S. subsidiary, Binance U.S, along with the Securities and Exchange Commission (SEC) have negotiated a tentative settlement, which is awaiting approval from a federal court. The proposed agreement would restrict client money on the Binance.US crypto exchange to only the staff of Binance.US. Private keys for both hot and cold wallets, other hardware wallets, and Binance.US internal systems and controls will be protected from access by Binance Global employees. Awaiting Court Approval The US SEC, as plaintiff, and Binance Holdings and Binance.US, as defendants, have reached an agreement. As shown by a proposed settlement and consent order filed with the US District Court for the District of Columbia. This was on June 16. According to the terms of the agreement. No employees of Binance Holdings will have access to any of Binance.US wallets. Including hardware wallets and systems. In addition, in the next few weeks, Binance.US will provide the US SEC with a comprehensive financial statement. This will include company expenditures and expected costs. Furthermore, this comes after US District Judge Amy Berman Jackson urged the SEC and Binance.US to settle out of court. Rather than ask her to issue a restraining order to freeze Binance’s US-based arm’s assets. An asset freeze might put a stop to the exchange’s operations in the United States, according to the company, and the restraining order is “unnecessary.” Surprisingly, the US Securities and Exchange Commission reduced their concerns pertaining to Binance’s ownership over its U.S.-based subsidiary on June 13 in compliance with the court ruling. Both sides have reached an agreement on the proposed stipulation and consent decree, which now has to be approved by the federal court. Moreover, Bitcoin and Ethereum prices both increased by 4%, to $26600 and $1743, respectively, as the cryptocurrency market rebounds as per data from CMC. Recommended For You: Binance Flexible Loan Announces the Delisting of PEPE as a Borrowable Asset

The price of $FLOKI has moved up 5.21% in the previous 24 hours. Two weeks ago, Floki and Binance Pay announced a strategic alliance. The addition of the popular memecoin Floki in niche categories on Binance, one of the world’s major cryptocurrency exchanges, has facilitated its further popularity. The price of $FLOKI has moved up 5.21% in the previous 24 hours after the exchange said it will add the cryptocurrency to the Metaverse and the Gaming categories. Millions of Binance customers will be able to trade Floki since the exchange added it to its Metaverse and Gaming category, among other notable metaverse and gaming cryptocurrencies. Popularity on the Rise The fact that Binance has recognized Floki as worthy of inclusion in both the Metaverse and Gaming sections is strong evidence that the meme currency is here to stay. Binance’s stringent listing procedure and meticulous screening of cryptocurrencies ensure that only trustworthy and promising endeavors make the cut. Floki’s popularity has been on the rise recently, making it the fourth-biggest meme coin by market valuation. Two weeks ago, Floki and Binance Pay announced a strategic alliance with the goal of boosting adoption via a joint marketing initiative. The Floki listing on Binance was announced on the 24th of April this year, and the exchange made it available to its millions of customers the following day. Floki’s recent market performance has been encouraging, with price increases over both the last day and the past week. As per CMC, within an hour of the announcement, it rose 3.09%, and in the last 24 hours, it has risen 5.21%. As of this writing, it has increased by over 10% over the previous week, pointing to an upward tendency in the coin’s surge.

Nike collaboration with Epic Games signals potential sneaker NFT integration in Fortnite. The collaboration is expected to blur line between gaming and Web3. Nike, the renowned footwear and apparel giant, recently announced an exciting collaboration that hints at a groundbreaking partnership with Epic Games, the creators of the wildly popular online game, Fortnite. In a short promotional video released on June 16, Nike showcased its Air Max logo alongside Fortnite‘s iconic logo. It created a buzz among gaming and sneaker enthusiasts alike. Against a backdrop of floating clouds, the video unveiled the name of the highly anticipated event,”Airphoria.” Exploring Nike’s Fortnite NFTs While specific details are still scarce, speculation is rife within the NFT community that Nike may be preparing to launch a collection of sneaker NFTs within the Fortnite universe. This move has the potential to bridge the gap between traditional gamers and the world of Web3. Worth Noting that Fortnite boasts a staggering 242.9 million active players over the past 30 days, according to Active Player. There was inclusion of Nike’s web3 platform logo, .SWOOSH, in the video. It further suggests the involvement of NFTs in the upcoming event. Additionally, there is another speculation that Nike might have utilized Fortnite Creative 2.0 to develop an NFT-related game. Fortnite Creative 2.0 provides users with the tools to build virtual island game maps using Fortnite assets. It is similar to the game creation process on platforms like ROBLOX. Two years ago, Nike entered the gaming world with a game on ROBLOX,although they did not integrate NFTs at that time.The potential integration of NFTs into the “Airphoria” event could be a significant milestone for Nike’s NFT unit. And a step toward broader adoption in the gaming industry. As the sneaker game increasingly transitions to digital channels, Nike aims to recapture the vibrant culture of location-specific drops.It remains to be seen whether this event will transcend the virtual realm and extend into the physical world. The previous collaborations between Nike and Fortnite have been exclusively within the game. As the eagerly anticipated June 20th launch of the “Ultimate Sneakerhunt” draws near, participants eagerly await further details from Nike and Epic

The SEC v. Coinbase case has been transferred to Judge Katherine Polk Failla. The new judge presided over a separate cryptocurrency case involving Tether and Bitfinex. Less than 10 days after the SEC first filed claims, the judge presiding over the lawsuit between the SEC and Coinbase has been replaced. Coinbase and Binance, two of the major cryptocurrency exchanges, were sued by the cryptocurrency regulator. It has been alleged that top US exchange Coinbase ran an unregistered security offering. In order to operate its staking-as-a-service business. In the meanwhile, the cryptocurrency market showed surprisingly little negative reaction to the back-to-back lawsuits. Despite a protracted decrease in asset values after fears of a US regional financial crisis. Previous Crypto Exposure The SEC v. Coinbase case has been transferred to Judge Katherine Polk Failla, who ruled over a separate cryptocurrency case involving Tether and Bitfinex. However, according to MetaLawMan, the replacement of the Judge was not necessary. The new judge has apparently worked with crypto before, giving her some background knowledge in the field. Tweeted the MetaLawMan account: On the other hand, Binance, the largest cryptocurrency exchange, is being subjected to more regulation and new challenges. After being sued in the US and having its license refused in the Netherlands, the exchange is now being investigated by French authorities for “aggravated money laundering.” Binance CEO Changpeng Zhao dismissed the allegation as “FUD” and said that unannounced on-site inspections of regulated businesses are commonplace in France. Next, he emphasized that the same is true with other crypto trading platforms. Recommended For You: Binance Flexible Loan Announces the Delisting of PEPE as a Borrowable Asset

Baby Doge Coin price surged over 6% in the last 24 hours. BabyDoge trending on Twitter with over 1.3m tweets. Significant things are happening in the meme coin realm and cryptocurrency market while the industry faces major challenges from regulators. A popular meme token, Baby Doge Coin (BabyDoge), is trending over “Crypto Twitter” with a notable price rally. BabyDoge was inspired by its renowned counterpart, Dogecoin, which witnessed a remarkable 6% price surge today. This surge comes as the latest development in a series of positive trends that have propelled the token to new heights in recent weeks. At the time of writing, BabyDoge price had climbed about 5% to $0.000000001439 with a 24-hour trading volume of over $3 million, which soared about 26.5%. Baby Doge Coin surged by 6.5% in a week and has a market cap of over $217 million. In addition, the meme token RSI indicates that BABYDOGE is in an extremely overbought stage, which means it may have a correction in its price. Baby Doge Coin (BABYDOGE) Price Chart (Source: CoinGecko) Further, BABYDOGE recently made headlines with a “historic burn of 206 quadrillion tokens” valued at around 294 million. Despite the burn, there is still a sizable supply of 152 quadrillion BabyDoge tokens in use. The rise of BabyDoge resulted in its emergence as a prominent player in this flourishing landscape. Moreover, social media platforms have played a pivotal role in catapulting Baby Doge Coin’s popularity. Also, the recent surge in price reflects the community’s optimism and confidence in Baby Doge Coin’s long-term prospects. Recommended for you Baby Doge Coin (BABYDOGE) Price Prediction 2023

The firm cited problems from the crypto winter rather than regulatory concerns. Wyre restricted client withdrawals to 90%, however on January 13 they lifted the limit. After almost a decade in business, San Francisco’s Wyre, a cryptocurrency payments startup, has announced shutdown, citing the problems of the crypto winter rather than any strong “regulatory agency direction” in the U.S. On June 16th, the firm said it will be shutting down in order to “protect the best interest of our key stakeholders and customers.” The company stated: Struggling for a While By stating that interested parties may buy Wyre’s or its subsidiaries’ assets by contacting 88 Partners, Wyre’s team further hinted that the firm was selling its assets. Since September 2022, when the one-click checkout startup Bolt backed out of plans to acquire Wyre for $1.5 billion, the company has reportedly been in a tough phase. Juno, a provider of a fiat-to-crypto on-ramp solution, advised its clients to self-custody their crypto assets on January 4th, 2023, rather than leaving them on the Juno platform due to “uncertainty” surrounding its custodial partner Wyre. In a similar move the following day, MetaMask no longer supported Wyre’s crypto payment services. A few days later, Wyre restricted client withdrawals to 90%, however on January 13 they lifted the limit after receiving funding from an unnamed strategic partner. Wyre is the latest crypto and blockchain company to shut down as a consequence of the ongoing bear market. In May alone, the crypto winter caused the closure of several crypto fintech firms, in addition to mass layoffs.

BlackRock and Coinbase collaborate on a Bitcoin spot ETF application. Prior attempts for a Bitcoin spot ETF faced SEC rejection. BlackRock’s application may reshape the Bitcoin ETF landscape. In an audacious stride, BlackRock, the titan of global asset management, is on course to initiate a Bitcoin spot ETF. On Thursday, the firm formally lodged an application with the US SEC. This move follows rumors sparked by a CoinDesk report suggesting an imminent filing. Teaming up with Coinbase, the leading US crypto exchange, BlackRock is venturing to shape a novel financial product. With a staggering $9.5 trillion in assets as of Q1 2023, BlackRock’s bold moves in the financial sphere are not new. Moreover, as per reports, this ETF will utilize Coinbase Custody and its spot market data for pricing, while BNY Mellon safeguards the cash assets. Previous Collaborations and Potential Obstacles Ahead According to sources, BlackRock shook hands with Coinbase last August, allowing its Aladdin investment management platform users to own and trade in digital currencies. Consequently, this partnership provided BlackRock clients comprehensive access to Coinbase’s services, including trading, custody, prime brokerage, and reporting. However, the road to a spot in Bitcoin ETF has been fraught with difficulties. Despite the SEC giving the green light to four Bitcoin futures ETFs, no spot market ETF has yet seen the light of day. The concerns stem from potential fraud and manipulation of the unregulated and fragmented spot market. Besides the pushback from the SEC, previous attempts at a Bitcoin spot ETF have also met resistance. In June 2022, Grayscale, a leading asset manager, saw its application for a Bitcoin spot market ETF rejected by the SEC. The subsequent lawsuit saw Grayscale arguing that the risks associated with both spot and futures ETFs were equivalent. However, the SEC distinguished the regulated futures market from the unregulated spot market. On the contrary, as the world waits with bated breath, BlackRock’s application may prove to be a turning point in the landscape of Bitcoin ETFs.

ZachXBT received a lawsuit for his article published on June 2022. Jeffrey Huang claims that his reputation is been damaged. Earlier Today, Machi Big Brother (known as Jeffrey Huang), a web3 pseudonym filed a lawsuit against ZachXBT (known for Zachary), an internet on-chain sleuth. The reason for the lawsuit is defamation in an article written by Zachary on June 2022. However, the lawsuit claimed from the U.S. District Court for the Western District of Texas, as a plaintiff by Jeffrey Huang and the as a defendant for Zachary. Jeffrey Huang mentioned that Zachary has defamed him and his article is false. The attorneys of the plaintiff raised a complaint of allegations and the malicious promotion of their plaintiff. Jeffery deteriorated and his reputation is been damaged, he added. What Did ZachXBT Reply? ZachXBT wrote on his Twitter that this lawsuit seems baseless and adds ‘I intend to fight back & defend free speech.’ He has disclosed a copy of his article for the public’s reading and consideration. The address on which he created the donation with legal costs is around $1M USD. ZachXBT adds his donation wallet address which is ETH: 0x6eA158145907a1fAc74016087611913A96d96624 where ‘all the EVM chains are accepted and stablecoins are preferred’. However, ZachXBT assures that the leftover funds from the donation will be transferred to the investors on a pro-rata basis. Additionally, he feels bad that this was expected as people would dislike certain things. Alongside, he adds that his historical record would speak rather than anything else. Disclaimer: The opinions expressed in this article are solely those of the writer and not of this platform. The data in the article is based on reports that we do not warrant, endorse, or assume liability for.

Ukrainian regulators have announced their plans to raise taxes on crypto gains. The draft law makes it possible to work according to EU rules. Ukrainian regulators have announced their plans to raise taxes on crypto gains starting in 2024. Both individuals and businesses involved in cryptocurrency transactions would be subject to an 18% tax on their profits under the proposed plan. The National Commission for Securities and the Stock Market plans to charge a flat-rate tax of 18% on revenue from cryptocurrency investments. The announcement sparked mixed responses from the Ukrainian crypto community. Moreover, military service will be subject to a tax rate of 1.5%. Ukraine’s Efforts to Establish Regulations for Crypto According to the report, the National Commission for Securities and the Stock Market will present the draft law to parliament during the next session. Moreover, the crypto exchanges and brokerages operating in Ukraine need to get operating permits from the commission under the drafted law. The Ukrainian Commission wants to develop itself and the Central Bank with regulations over the crypto sector. This move follows Ukraine’s recent effort to align its crypto regulations with the European Union’s Markets in Crypto-Assets (MiCA) legislation. Yuriy Boyko, the commission member, stated Moreover, Boyko added that the draft law makes it possible to work according to EU rules. If an exchange or a crypto trader wants to operate in the market, they must comply with these rules. The proposed tax rate of 18% on crypto gains signals the government’s intention to regulate the crypto market within the country. Moreover, this decision highlights Ukraine’s initiatives to adapt to the shifting financial landscape and make sure the nation gains from the rising popularity of digital assets.

The recent update from Quant resulted in a massive surge in its trading price. QNT rocketed to the top of the list of top performers on the crypto market. The crypto market experienced a downtrend after the SEC continuously filed charges against the leading crypto exchanges. However, the cryptocurrency Quant (QNT) has shown an extraordinary surge in its trading price. The sudden price surge captured the attention of investors in the crypto market. On June 16, Quant, the London-based blockchain solutions provider, announced its partnership with the Bank of England and the Bank for International Settlements (BIS) in their joint venture, the Rosalind project. The project Rosalind aims to build API prototypes for retail CBDC ecosystem innovation. Quant’s Update Sparks the Trading Price Project Rosalind, directed by the BIS Innovation Hub London Centre, has been experimenting with APIs that may help with retail payments in CBDCs. It enables the exploration of innovative CBDC use cases. Another significant result was innovation through use case exploration, which examined CBDCs may serve a future economy that is more digitalized. The recent update from Quant resulted in a massive surge in its trading price. QNT has witnessed an increase of 15.53% in the last 24 hours. The significant surge in the trading price of QNT suggests that the recent update has resonated positively with the crypto market. Moreover, with the substantial increase, QNT rocketed to the top of the list of top performers in the crypto market. At the time of writing, the trading price of the Quant is around $112.38, with an increase of 15.53% in the last 24 hours. Moreover, the trading volume has witnessed a massive increase of 316%, according to CoinMarketCap.

Binance delists PEPE, signaling a strategic asset management shift. PEPE loans need clearing before June 21, 2023, to avoid liquidation. Same-crypto repayment policy upheld, emphasizing the platform’s currency stability. In a notable shift, Binance has opted to delist PEPE as a borrowable asset. Consequently, this change in Binance’s Flexible Loan offerings signals an intriguing shift in the platform’s asset management strategy. As per Binance’s announcement, this strategic decision will culminate on June 21, 2023, at 08:00 (UTC). Hence, users currently with outstanding PEPE loans are now on the clock as they must settle their unpaid loan positions before the deadline mentioned above. Moreover, Binance has clarified that failure to repay in time will result in potential liquidation. Specifically, a 2% liquidation fee will apply to those affected. Besides the liquidation fee, this recent development underlines a dynamic shift in Binance’s loan offering. Additionally, the platform continues to rely on its flexible loan FAQ and Terms and Conditions to provide comprehensive information about this process. Binance Insists on Same-Crypto Repayments Significantly, Binance Flexible Loan’s repayment policy remains unchanged. It continues to mandate repayments in the same cryptocurrency initially borrowed by the user. Thus, any borrower who initially took out a loan in PEPE must also return it in PEPE. This policy is designed to maintain the platform’s currency stability, even amidst these alterations. Consequently, users with PEPE loans must make a note of this upcoming deadline. Additionally, they must take proactive steps to ensure their loans are cleared on time to avoid any potential liquidation. In conclusion, Binance’s delisting of PEPE as a borrowable asset is a reflection of the evolving dynamics within the crypto lending world. As this landscape continues to grow, it’s critical for users to stay abreast of changes to protect their investments.

The director of SEC enforcement action denies the crypto criticism. After SEC’s action against Coinbase and Binance, the crypto market has fallen down. As per the Reuters, it is said the United States Securities and Exchange Commission (U.S. SEC) has refused the crypto breakdown criticism and condemned the securities laws which are breached, on Friday. In New York, Gubir Grewal, the chief director of SEC enforcement stated that this criticism is imposed as the failure of crypto firms are scrutinized without following the regulations. He also added: It is noted that the Securities Exchange Commission claimed that the scrutinized crypto firms are unregistered securities with illegal brokerage and exchanges. Reason Behind The Criticism Crypto companies such as Coinbase and Binance have been sued due to their activities of holding unregistered securities laws. Correspondingly, the crypto market has fallen due to SEC’s action against the crypto exchanges. However, these firms proclaimed that these allegations are contradicting and they are not acceptable with the new rulemaking processes. Also, the crypto firms claim that the SEC sets inappropriate regulations and prefers new rulemaking policies often. Grewal said at an event, Furthermore, the crypto firms bring forth a constraint that the SEC is becoming unwilling to cooperate with the crypto industry. Additionally, it connects that once the FTX collapse occurred, the Securities Exchange Commission kept hardening the rules and regulations for cracking the whole crypto market. Currently, the global crypto market is increased by 2.04% compared to the last 24 hours. And, it is expected that the crypto market needs stability as the majority of crypto investors support Binance and Coinbase although it got sued by the SEC. Recommended For You: SEC Puts Crypto in Crosshairs: Decoding The Crypto Wars Escalation

IVG Capital is proud to announce the introduction of its new facility for trading Cryptocurrencies with leverage. IVG Capital is the trading name for IVG Partners Group Ltd, authorised under IBC No. 2023-00063. The company provides a wide range of financial instruments to traders in CFDs, such as forex, commodities, oil, pure metal, and indices. IVG Capital is committed to client satisfaction, which is why it is introducing the latest offering that will revolutionize Crypto trading. The company’s Crypto offering provides traders with a seamless and simple trading process that offers leverage trading up to 100x. It is available on the leading Cryptocurrencies, including Bitcoin, Etheruem, Litecoin, and more. The CEO of IVG Capital, John Doe, expressed his delight on the company’s new product stating, “We are proud to introduce this new Crypto offering, which will deliver an unrivaled user experience to our clients. As always, we are committed to providing top-notch trading solutions that meet our clients’ needs. Our new Crypto offering complements our existing trading solutions, and traders can now diversify their portfolio by trading on Cryptocurrencies.” The IVG Capital Crypto trading platform features an intuitive user interface and is built on a robust infrastructure that delivers fast execution, despite market volatility. The platform is accompanied by comprehensive educational resources that traders can use to learn more about trading Cryptocurrencies and leverage trading. IVG Capital provides a safe and secure trading environment for its clients. It is a pure STP brokerage with no dealing desk. Ensuring that clients can trade in a conflict-free environment, with spreads starting from as low as 0.5 pips. Leverage trading is a powerful tool that offers traders the possibility of gaining significant profits, even with small amounts of capital. However, traders must exercise caution when deploying leveraged trading. Therefore, IVG Capital has implemented a range of risk management tools such as stop-loss and take-profit orders to help guide traders in managing their risk exposure. IVG Capital’s platform is available 24/7, and traders can access its Crypto trading platform with ease. The registration process is straightforward as traders can complete it within minutes and start trading immediately. IVG Capital is a global financial services provider that prides itself on offering clients unparalleled support. The company’s support staff is available 24/7 to assist with account setup, inquiries, and technical support. IVG Capital believes in putting its clients first, and as such, its support team is incredibly responsive and attentive, ensuring that clients’ concerns are addressed immediately. In summary, IVG Capital is proud to introduce its latest offering, the Crypto trading platform with leverage trading up to 100x. This new product is in line with the company’s commitment to providing traders with sophisticated trading solutions that are both simple and suitable for all levels of traders. Clients looking to diversify their portfolio can take advantage of this new offering and trade Cryptocurrencies with ease. IVG Capital’s Crypto trading solution is accompanied by educational resources and offers traders a conflict-free environment. The platform is accessible 24/7 with excellent support. For more information about IVG Capital’s Crypto offering, please visit their website https://www.ivgcapital.com Contact Name: James Freedman Email: [email protected] SOURCE: IVG Capital Disclaimer : This post was authored by an external contributor and does not represent TheNewsCrypto’s opinions. This content is for informational purposes only and not intended to be investing advice.

Shytoshi Kusama has announced the upcoming update for the SHIB metaverse. Shiba Inu holders can now register for VIP Metaverse access. Shytoshi Kusama, the creator of the popular memecoin, has announced the upcoming update for the SHIB metaverse. The announcement sparked excitement in the Shiba Inu community. Shytoshi Kusama stated that something physical is coming very soon. Investors thus anticipate some major releases from Shiba Inu coming very soon. While the physical update remains a mystery, the anticipation for it is high around the SHIB community. Moreover, the update mentioned that the holders of SHIB, BONE, LEASE, and other Shiba Inu tokens will now have a chance to claim the rewards and register for VIP metaverse access. The anticipation for the upcoming update results in a surge in the Shiba Inu trading price. At the time of writing, the trading price of the Shiba Inu is around $0.000006814, with an increase of 1.17% in the last 24 hours. Moreover, the trading volume of the SHIB has witnessed a decrease of 21.78%, according to CoinMarketCap.

Jump. trade’s significant growth exemplifies the rising popularity of NFTs. Increased user base across platforms indicates mainstream acceptance of NFTs. In the relentless and dynamic world of NFT marketplaces, claiming a position of dominance is a remarkable achievement. Significantly, one platform that has spectacularly outpaced its rivals is Jump.trade. Indeed, this platform has carved out a strong niche and ascended to the top, demonstrating staggering user growth. Founded by Kameshwaran Elangovan, Jump. trade’s recent leap to the peak of CryptoRank’s ‘Top 10 NFT Marketplaces by User Growth’ chart is an accomplishment beyond words. In this ranking, Jump.trade recorded an incredible surge of 721% in user growth. Undeniably, this feat testifies to the platform’s growing popularity and commitment to continuous innovation. However, it isn’t merely technology and foresight that have thrust Jump.trade into the limelight. Behind this success is a community of dedicated individuals who have poured their hearts and soul into this enterprise. Hence, Elangovan’s post expressed heartfelt gratitude towards this resilient community, highlighting its significant role in reaching this notable milestone. The Underdogs Outperform Moreover, the second position was not too far behind in growth. Manifold, the marketplace known for its wide-ranging digital art collection, witnessed a 568% user growth, reaching a hefty count of 66.6K users. The platform is significantly changing the landscape of NFT trading with its unique offerings. Based on Cryptrank’s data, the third spot was further grabbed by NFPrompt, displaying a commendable 200% increase. Additionally, Element saw a decent 180% growth, while OpneBisea experienced a 136% rise in its user base. Both platforms served as a testament to the rapid growth of NFT trading platforms, regardless of their size or popularity. Furthermore, this race included other platforms like NeftyBlocks, Unick, NFTHive, Rarible, and BitKeep NFT Market. These platforms saw an increase in their users between 7.22% and 61.3%, respectively. This consistent upward trajectory among all top ten platforms depicts digital asset enthusiasts’ burgeoning interest in NFTs. Overall, the market’s dynamism presents new and exciting opportunities for traders and investors. It is evident that NFTs are no longer a niche market but are making significant strides in mainstream acceptance. As we witness this wave of growth, the question remains, “Which NFT marketplace will take the lead next?”

The BOE and the Bank for International Settlements (BIS) collaborated on a project. The Bank of England’s first results provide credence to the institution’s decision. After a year-long examination, the Bank of England (BOE) has come to the conclusion that blockchain technology might enable a “diverse range” of new monetary applications, bringing the BOE one step closer to introducing its own digital currency. The BOE and the Bank for International Settlements (BIS) collaborated on a project called Rosalind to investigate the viability and possible advantages of a CBDC. Moreover, the BIS recently issued a paper detailing the results of the first stage of the trial, which found that a CBDC might facilitate faster and easier P2P payments, allow for the development of novel financial products, and minimize fraud. The term “programmability” may likewise be used to currency as a result. Banking on Project Rosalind Furthermore, the Bank of England’s (BOE) first results provide credence to the institution’s decision to introduce its own CBDC, colloquially dubbed “Britcoin.” The BOE has signaled that a CBDC will be required at some point. With the UK Treasury’s approval, the decision will go forward when the technological consultation concludes at the end of June. In response to those who worry that central banks and governments may have too much access to personal financial data via CBDCs, Verdian claimed that such fears are unfounded, pointing to the success of Project Rosalind as proof. The head of the BIS Innovation Hub in London, Francesca Hopwood Road, believes that Rosalind will have a major impact on the future of CBDC in retail. The Bank of England has taken heat for pushing towards a digital version of the pound without providing sufficient justification for doing so. Lord Mervyn King, a former governor of the Bank of England, called it a “solution without a problem.” Prior to Project Rosalind, Verdian observed that conversations on digital currencies tended to focus on theory and policy. CBDCs are not new; several have been tried elsewhere, with mixed results.

SEC intensifies actions against major US crypto exchanges. Coinbase argues crypto tokens shed securities status on the platform. SEC to follow Congress directives on crypto regulation. In a surprising twist of events, the Securities and Exchange Commission (SEC) has stepped up its game against major crypto exchanges in the U.S. After years of encouraging registration, the regulatory body is now throwing down the gauntlet. However, this is targeting the key players offering unregistered crypto trading to retail investors. From the SEC’s viewpoint, most crypto tokens qualify as securities. Hence, companies wanting to trade these tokens must register with the SEC. They may act as an exchange, broker-dealer, or clearing agency. A Crucial Tug of War Between Innovation and Regulation At first glance, the SEC avoided litigation to protect the U.S. crypto industry and its investors. However, their recent actions suggest an underlying belief that compliance with the Securities Exchange Act might be an insurmountable challenge for crypto intermediaries. In light of this, the SEC has adopted a more direct strategy. As per reports, they aim to limit retail crypto trading by targeting exchanges instead of individually identifying unregistered tokens or vaporware projects. Albeit regretful, this move is designed to prevent future violations and another FTX-like incident. While this approach may stifle innovation, the SEC believes it’s necessary for the greater good. In response, Coinbase presents an intriguing argument. It posits that although crypto tokens may have originated from a securities offering, they become mere utility instruments on Coinbase’s platform, shedding their securities status. Whether this argument holds water in court remains to be seen. Future of Crypto Regulation is in the Balance According to news, SEC Chairman Gensler asserts that the SEC would adhere to any clear directives from Congress concerning crypto oversight. Specifically, if Congress stated the SEC had no jurisdiction over crypto or implemented cryptocurrency-specific laws, the SEC would comply accordingly. Meanwhile, without clear instruction from Congress, the SEC is obligated to apply the existing Howey test framework to tokens and crypto perceived as securities. Contrarily, Crypto exchanges, and other defendants may need to bide their time. Moreover, it is hoping for Congress to establish new regulations or offer a compliance roadmap. The crypto wars have indeed escalated, and as they continue, we must keep a keen eye on these unfolding developments.

Bakkt decided to delist three cryptocurrencies due to regulatory uncertainties. Robinhood was the first exchange to say it would stop supporting all three cryptocurrencies. Following the United States Securities and Exchange Commission’s (SEC) designation of several cryptocurrencies as investment contracts earlier this week, digital currency trading platform Bakkt Inc will delist Cardano (ADA), Solana (SOL), and Polygon (MATIC). The crypto exchange based in Georgia, USA, decided to delist three cryptocurrencies due to regulatory uncertainties. Marc D’Annunzio, the company’s general counsel, told that this move was being made “until there is further clarity on how to compliantly offer a more extensive list of coins.” Concerns Over Liquidity Rises Due to the SEC’s lawsuit against Bittrex, Bakkt, which is known to offer fewer digital currencies than the industry standard, delisted Algorand (ALGO) and Decentraland (MANA) a few months ago. Bakkt has decided to err on the side of caution in light of the increasing scope of industry crackdowns and to efficiently handle the limited number of assets present on its platform. Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), USD Coin (USDC), and Shiba Inu (SHIB) are the only cryptocurrencies that may be traded on Bakkt at the moment. Delisting of the designated digital currencies by the SEC is quickly becoming a significant trend, and experts in the field have raised concerns that this may reduce the liquidity of the tokens in question. Robinhood was the first exchange to say it would stop supporting all three cryptocurrencies. Its delisting cannot be considered less damaging than Bakkt’s since, unlike Bakkt, it allowed users the ability to trade the three impacted tokens until the 27 of this month. Following Robinhood’s lead, eToro said that its American clients would no longer be able to trade in any of the three cryptocurrencies until further clarification was provided by regulators. As the trend of delisting grows, experts in the field are curious as to which service will be the next to follow suit. Recommended For You: Robinhood Delists Solana (SOL), Polygon (MATIC) and Cardano (ADA)